Accent Capital Management LLC Lowers Holdings in Eli Lilly and Company (NYSE:LLY)

Accent Capital Management LLC decreased its position in Eli Lilly and Company (NYSE:LLY) by 26.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,196 shares of the company’s stock after selling 790 shares during the period. Eli Lilly and Company comprises 1.1% of Accent Capital Management LLC’s investment portfolio, making the stock its 16th biggest position. Accent Capital Management LLC’s holdings in Eli Lilly and Company were worth $1,946,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LLY. Lynx Investment Advisory purchased a new position in Eli Lilly and Company during the second quarter valued at $32,000. LGT Financial Advisors LLC purchased a new position in Eli Lilly and Company in the 2nd quarter valued at about $36,000. Cedar Mountain Advisors LLC boosted its holdings in Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares during the last quarter. Morton Brown Family Wealth LLC increased its stake in Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after buying an additional 15 shares in the last quarter. Finally, Unique Wealth Strategies LLC acquired a new position in shares of Eli Lilly and Company during the second quarter valued at approximately $45,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday, September 16th. Citigroup increased their price target on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Truist Financial raised their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Berenberg Bank boosted their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company increased their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,007.94.

Eli Lilly and Company Stock Down 4.9 %

Shares of NYSE LLY opened at $746.20 on Friday. The business has a 50-day moving average of $882.65 and a two-hundred day moving average of $870.38. The company has a market capitalization of $708.38 billion, a price-to-earnings ratio of 80.67, a price-to-earnings-growth ratio of 2.82 and a beta of 0.43. Eli Lilly and Company has a 1 year low of $561.65 and a 1 year high of $972.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same period last year, the company earned $0.10 earnings per share. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, analysts forecast that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 annualized dividend and a yield of 0.70%. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by corporate insiders.

About Eli Lilly and Company

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.